Perhaps I'm looking at this wrong, but it seems as if Proof-Of-Stake combined with Proof-Of-Work will do some very interesting things for big pools, allowing big pools to give over 100% PPS based on stake earnings too, or earnings based on the coins left in a person's account until they withdraw, or something of the like. From what I understand, when proof-of-stake begins to be implemented, people with many coins will get more coins based off of their stake or holding, which would seem to have an adverse (not necessarily good or bad, just big) effect on the functioning of pools and payout schemes.
Very interested...
Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 132. (Read 684839 times)
August 28, 2012, 10:05:28 PM
August 28, 2012, 09:38:49 PM
How would I go about setting up my coins to do the "30 day stake"?
No need to set up anything. The stake minter is active always and will mint proof-of-stake blocks automatically for you. See our wiki FAQ for more explanations.
August 28, 2012, 09:34:38 PM
To clarify, there will be no block chain restart for v0.2 release. All your wallet/coins remain valid.
v0.2 upgrade would require redownload of block chain though. This operation requires a backup of current wallet (ppcoind backupwallet), shutting down ppcoind and removing all files in wallet directory except for the wallet.dat and ppcoin.conf files. After upgrade all your coins and transactions should remain valid and just the same as before the upgrade.
As we promised before, we will do our best to avoid block chain restart. If severe flaws are discovered and such actions are considered, we would notify and consult with the community first. Generally speaking, if a block chain impacting issue is found and some existing blocks must be declared invalid, a partial block chain rollback is always preferred over full block chain restart to reduce damage to our users. But in any case, we will try to avoid these type of scenario to the best of our abilities.
Best Regards,
v0.2 upgrade would require redownload of block chain though. This operation requires a backup of current wallet (ppcoind backupwallet
As we promised before, we will do our best to avoid block chain restart. If severe flaws are discovered and such actions are considered, we would notify and consult with the community first. Generally speaking, if a block chain impacting issue is found and some existing blocks must be declared invalid, a partial block chain rollback is always preferred over full block chain restart to reduce damage to our users. But in any case, we will try to avoid these type of scenario to the best of our abilities.
Best Regards,
August 28, 2012, 08:38:58 PM
How would I go about setting up my coins to do the "30 day stake"?
August 28, 2012, 08:22:08 PM
Update:
Public testnet would be available with the release of v0.2, mostly likely due by this weekend depending on the progress of testing.
Once testnet is available, you can play on it to see how proof-of-stake work as testnet has 1 day minimum stake age requirement instead of 30 days on the ppcoin network.
Public testnet would be available with the release of v0.2, mostly likely due by this weekend depending on the progress of testing.
Once testnet is available, you can play on it to see how proof-of-stake work as testnet has 1 day minimum stake age requirement instead of 30 days on the ppcoin network.
If this change is beneficial can it be implemented in the v0.1 chain without a reboot ?
August 27, 2012, 10:00:27 PM
Update:
Public testnet would be available with the release of v0.2, mostly likely due by this weekend depending on the progress of testing.
Once testnet is available, you can play on it to see how proof-of-stake work as testnet has 1 day minimum stake age requirement instead of 30 days on the ppcoin network.
Public testnet would be available with the release of v0.2, mostly likely due by this weekend depending on the progress of testing.
Once testnet is available, you can play on it to see how proof-of-stake work as testnet has 1 day minimum stake age requirement instead of 30 days on the ppcoin network.
August 27, 2012, 11:06:50 AM
I've added a section here http://ppcointalk.org/index.php?q=forum/10 where people can make offers to buy and sell PPCoins.
I am looking into setting up an exchange also
Might want to hurry I am looking into setting up an exchange also
I was planning on setting one up once I got the pool a bit more stable.
August 27, 2012, 02:32:28 AM
I've added a section here http://ppcointalk.org/index.php?q=forum/10 where people can make offers to buy and sell PPCoins.
I am looking into setting up an exchange also
I am looking into setting up an exchange also
August 26, 2012, 08:50:50 PM
Are there any exchanges? i want to exchange all my BTC to PPC, with this new bitcoin replacement bitcoin seems of the long past and has no future.
Quoted for hilarity in the future.
You won't be laughing when you are forced to sell 10 of your scam-coins for 1 ppc to avoid shame and humiliation.
Is ppcoin ready for bitcoins collapse?
August 26, 2012, 08:48:43 PM
Are there any exchanges? i want to exchange all my BTC to PPC, with this new bitcoin replacement bitcoin seems of the long past and has no future.
Quoted for hilarity in the future.
You won't be laughing when you are forced to sell 10 of your scam-coins for 1 ppc to avoid shame and humiliation.
August 26, 2012, 08:21:15 PM
I observed a small difficulty drop today. I suppose some miners dropped out because of the difficulty.
August 26, 2012, 06:45:00 PM
Are there any exchanges? i want to exchange all my BTC to PPC, with this new bitcoin replacement bitcoin seems of the long past and has no future.
I doubt it. But if you want to get rid of your BTC for PPC send me a PM including an offer.
August 26, 2012, 01:36:30 PM
Are there any exchanges? i want to exchange all my BTC to PPC, with this new bitcoin replacement bitcoin seems of the long past and has no future.
August 26, 2012, 11:14:04 AM
Weekly Update #1
Have fun and next week!
- PPCoin has sailed through our first week with aplomb. There is a small annoyance where users see quite a bit exception messages in debug log about tx messages, and is linked to Bitcoin transactions somehow broadcasted on our network. We are currently investigating a network protocol upgrade for v0.2 to solve this problem. Block chain and user transactions have been working normally throughout the week and not affected by this annoyance.
- In v0.2 a main chain protocol upgrade is expected as I described in https://bitcointalksearch.org/topic/ppc-ppcoin-02-proposal-102342. The code of this has been done, as well as some other improvements. This protocol switch is important and will help us achieve the goal of decentralization in the future. I am also working on setting up public test network. Over next week v0.2 code would go through testing and be prepared for release.
- I didn't expect that within the first week both a mining pool (NothinG) and a forum website (FuzzyBear) were set up with the ppcoin network. Kudos to our ardent and productive supporters and I believe our still small community has great prospects.
- While the proof-of-stake blocks are still not due for another 3 weeks, our users should have already observed our difficulty adjustment is continuous. In principle it isn't that much different from Bitcoin, standard averaging techniques are used to achieve constant adjustment. This design helped a lot during our first 3 days, where difficulty climbed from an initial 256 to over 3000. The constant adjustment of difficulty also helps with protecting the kernel, but this is probably a bit premature to be discussed right now.
- First week total mintage is 3~4 million coins. We thank our supporters for contributing resources to help the network get started. I am an entrepreneurial type as well as an architect/techie, and I understand taking risks deserves matching reward. The mint curve is quite fair in my opinion, as everyone has free choice to participate in the early stages.
Have fun and next week!
August 26, 2012, 11:04:57 AM
I've looked around and I just want to clear up one idea about this coin:
If I have more coins, am I more likely to mine coins?
Like if I have 2000 coins and 1.5GH/s, am I more likely to mine a coin than someone who has 1000 coins and 1.5GH/s? And less than someone with 10000 coins and 1.5GH/s?
Edit: that is in 3 weeks huh?
If I have more coins, am I more likely to mine coins?
Like if I have 2000 coins and 1.5GH/s, am I more likely to mine a coin than someone who has 1000 coins and 1.5GH/s? And less than someone with 10000 coins and 1.5GH/s?
Edit: that is in 3 weeks huh?
August 26, 2012, 09:42:16 AM
I think the idea of proof-of-stake is quite interesting...
I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:
As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.
In any way, I think you're doing some good work in creating an implementation to start trying new ideas!
I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:
- Exactly what is used as input in a coinstake transaction? My best interpretation would be that all outputs in your wallet are included, such that the correct coin-age can be computed. Wouldn't this effectively kill privacy as it links all your outputs together?
- Will proof-of-stake result in the richest people having to say the most? Exactly what decision could they force by using their PPC-wealth?
- Is it possible to keep PPCoins laying around for a long time, just to build up coin-age and use this to force some decision onto the network at a later time?
- What outputs can be used in the coinstake? Must those output be consumed already or must they still be available?
As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.
In any way, I think you're doing some good work in creating an implementation to start trying new ideas!
- coinstake does not put all your coins inside, as you observe correctly that would compromise privacy. the built-in minter only sometimes try to combine small coins from the same address/key
- yes and that's intended, just like in proof-of-work case those who own the highest hashrate having the most say. they could affect the decision in deciding main chain.
- to a very limited extent yes. this question has to be considered with our v0.2 main chain protocol, which will use proof-of-stake difficulty to score competing chains. you'd need to accumulate a *lot* of coin age to force large reorgs, my estimate is you need a large portion of all coin age currently participating in the protection of the network. So I classify this sort of double-spending attack on the same level of 51% attack on proof-of-work.
- output is no different from user transaction, only difference is it includes a reward (proof-of-stake mint) and is held for maturity (520 blocks same as coinbase)
August 26, 2012, 04:08:18 AM
I think the idea of proof-of-stake is quite interesting...
I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:
As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.
In any way, I think you're doing some good work in creating an implementation to start trying new ideas!
I've read the paper on the website, but didn't have time to check the source code, yet. I do have some questions about thing the paper doesn't explain:
- Exactly what is used as input in a coinstake transaction? My best interpretation would be that all outputs in your wallet are included, such that the correct coin-age can be computed. Wouldn't this effectively kill privacy as it links all your outputs together?
- Will proof-of-stake result in the richest people having to say the most? Exactly what decision could they force by using their PPC-wealth?
- Is it possible to keep PPCoins laying around for a long time, just to build up coin-age and use this to force some decision onto the network at a later time?
- What outputs can be used in the coinstake? Must those output be consumed already or must they still be available?
As I said, I didn't have time to check the source code, so some questions may be answered that way. However, I'd like to hear your view on the questions I posed.
In any way, I think you're doing some good work in creating an implementation to start trying new ideas!
August 25, 2012, 11:57:52 PM
i sent 0.01
question: fee is mandatory? can't be selectable like BTC?
btw: i like your nick, i should change mine to oPPai :p
question: fee is mandatory? can't be selectable like BTC?
btw: i like your nick, i should change mine to oPPai :p
Yes fee is required with default and minimum 1 cent per kilobyte. You can use listtransactions to see the exact fee paid for the transaction.
August 25, 2012, 11:55:19 PM
i'm getting a lot of messages like this:
******* exception encountered *******
ProcessMessages(tx, 798 bytes) : Exception 'CDataStream::read() : end of data' caught, normally caused by a message being shorter than its stated length
ProcessMessage(tx, 798 bytes) FAILED
askfor tx a23942f142d07b45a397 0
sending getdata: tx a23942f142d07b45a397
in %APPDATA%\Roaming\PPCoin\debug.log
i dont know what it means or if it is importand..., miners are working correctly (at least, so it seems)
******* exception encountered *******
ProcessMessages(tx, 798 bytes) : Exception 'CDataStream::read() : end of data' caught, normally caused by a message being shorter than its stated length
ProcessMessage(tx, 798 bytes) FAILED
askfor tx a23942f142d07b45a397 0
sending getdata: tx a23942f142d07b45a397
in %APPDATA%\Roaming\PPCoin\debug.log
i dont know what it means or if it is importand..., miners are working correctly (at least, so it seems)
This is a known issue where Bitcoin tx presumably were somehow broadcasted from a node bridged with Bitcoin network. This is not affecting the block chain or your client other than dumping these exception messages into the logs.
We are working on a network protocol upgrade in v0.2 so in the future you will see clean log messages.
August 25, 2012, 11:44:18 PM
Someone want to send any amount of PPC to my address to make sure its working please? (Even .01)
PRRqRbQaoqiqfAgBD4RaTtTk3sxRpZeSBT
PRRqRbQaoqiqfAgBD4RaTtTk3sxRpZeSBT
i sent 0.01
question: fee is mandatory? can't be selectable like BTC?
btw: i like your nick, i should change mine to oPPai :p
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